In a recent ruling, the National Company Law Tribunal (NCLT), Bengaluru Bench, has declared Congress MLC Naseer Ahmed bankrupt after finding him liable as a personal guarantor for loans amounting to ₹1,454 crore extended to Scotts Garments Ltd. by a consortium of banks led by Canara Bank, State Bank of India, and IDBI Bank. Appearing through…
NCLT declares Congress MLC Naseer Ahmed insolvent over Rs 1,455-crore loan default indiagazette.com Read the original article here
A UK pizza dough supplier has fallen into administration after more than 30 years in business. Millennium Dough Company, based in Greenford, West London, specializes in producing authentic, artisan frozen pizza dough for industrial use. The business was founded in 1992 and was previously known as Millennium Food Services Limited before rebranding in 2022. It…
‘High-quality’ UK pizza company collapses into administration after 34 years Times & Star Read the original article here
BENGALURU: In a major setback for Congress MLC Naseer Ahmed, the National Company Law Tribunal (NCLT) has declared him insolvent over default on bank loans and interest totalling Rs 1,454.71 crore. The order puts his Legislative Council membership and voting rights at risk. The case relates to a garments company, where Naseer Ahmed was managing…
Follow TNM’s channel for news updates and story links. The National Company Law Tribunal (NCLT), Bengaluru Bench, has declared Congress MLC Naseer Ahmed bankrupt in connection with the default of loans amounting to Rs 1,454.71 crore owed by Bengaluru-based M/s Scotts Garments Limited, for which he had stood as a personal guarantor. The order has cast…
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The case involves a garments company where Ahmed and his family served as directors and personal guarantors. After repeated defaults and failed repayment proposals, the Bengaluru bench of the NCLT rejected their arguments and appointed an insolvency trustee. In a major setback for Congress MLC Naseer Ahmed, the National Company Law Tribunal (NCLT) has declared…
The case involves a garments company where Ahmed and his family served as directors and personal guarantors. After repeated defaults and failed repayment proposals, the Bengaluru bench of the NCLT rejected their arguments and appointed an insolvency trustee. In a major setback for Congress MLC Naseer Ahmed, the National Company Law Tribunal (NCLT) has declared…